Nigeria’s upstream petroleum regulator has approved 145 new oil well-drilling operations, 595 well re-entries, and 39 field development plans so far this year as the country seeks to increase crude production and attract fresh investment to its oil and gas sector. A senior executive from the regulatory body attributed the approvals to faster regulatory processes that have reduced project delays and operating costs. The executive added that Nigeria has more than 100 drilling rigs, with 46 currently active, representing an increase of more than 300% when compared with 2021. They also reported that seismic companies have invested over $100 million in the country since the Petroleum Industry Act took effect three years ago—a move that has improved exploration data and aided the search for new reserves.